U.S. Route 202 Analysis. New Castle County Department of Land Use May 4, 2018

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1 U.S. Route 202 Analysis New Castle County Department of Land Use May 4, 2018

2 Route 202 Study Area

3 202 Master Plan RFP 2018 Goal: Redevelop U.S. 202 as a high-quality and attractive multi-modal corridor with provisions for mixed-use land development with walkability, bikeability and place-making. U.S. 202 Corridor Master Plan will build upon the results of the 2017 U.S. 202 Market Assessment RFP currently in consultant selection stage Community visioning meeting to be held in summer 2018

4 Study Area Considerations U.S. 202 is not pedestrian or bicycle-friendly o o Poor connectivity between the uses along the Corridor Very few walkable or bikeable environments on the Corridor Demographic change: Two largest demographic cohorts --Baby Boomers and Millennials favor walkability and mixed use, compact development. U.S. 202 has generally well-leased commercial buildings and has maintained its competitiveness as a retail and office location despite national trends. However, the Corridor will become less attractive to retailers, businesses, shoppers and visitors over time. Question: Can enhanced value be realized on the U.S. 202 Corridor with better land use products and improved transportation facilities?

5 U.S. 202 Market Study (2017) Assessment of existing conditions Trends and future market dynamics Strength of the market for each of these land uses

6 U.S. 202 Existing Conditions Currently designed for the automobile, not pedestrians nor cyclists Average daily traffic (ADT) counts of up to 55,550 vehicles daily Generally one-story retail buildings, with surface parking lots in front and auto-oriented signage Adjacent residential development includes single-family subdivisions with few apartment buildings Office development of various scales and numerous institutional uses are interspersed throughout Abundant recreational opportunities on protected lands, that include extensive trail networks, exist along the western side of the Corridor

7 Neighborhoods and Traffic Concerns U.S. 202 carries considerable vehicle volume. o Accommodates BOTH commuter traffic and local traffic. o Functions as a STROAD : A street that wants to be a road and a road that wants to be a street. Does neither of them very well. Residents may be concerned that mixed-use redevelopment will increase traffic and degrade their quality of life. A multi-modal transportation network properly integrated with mixed-use development does not necessarily increase traffic on local roads.

8 Wilmington University Developing 41 acres on U.S. 202 at Beaver Valley Road Project includes three phases totaling 206,628 sq. ft. of buildings. Phase 1: 78,800 sq. ft. currently under construction University is growing quickly. Current enrollment: 19,000+ Approximately 45% of students are from north Wilmington zip codes University is a valuable anchor for the U.S. 202 Corridor

9 AstraZeneca 30-acres campus -- large enough to accommodate mixed-use redevelopment. No new plans have been submitted for review. However, property owner intends to submit for review a mixed-use project (office, retail, residential, hotel) in the future.

10 Brandywine Country Club Exploratory plan submitted in 2017 seeking to: Rezone and build 408 apartments and 153 homes Redevelop portions of existing shopping center Land Use requested revised exploratory plan to gain compliance with the Unified Development Code. Since July 2017, awaiting developer s revised plan

11 Concord Plaza Located on the north side of Silverside Road, east of U.S. 202 Approved Land Development Plan for the partial redevelopment of the existing office park Mixed-use plan currently under construction. Includes, apartments, retail and office uses. (341 apartments, 423,016 sq. ft. office, 37,578 sq. ft. retail)

12 Land Scarcity With a few exceptions, Northern New Castle County is essentially built-out (in a suburban sense) along most corridors. The opportunities for greenfield development are limited. Land scarcity may prove to be advantageous for the evolution of U.S Without the option of leapfrogging to a greenfield site, U.S. 202 s location makes it a prime redevelopment opportunity.

13 Economic Framework Most of New Castle County s forecasted near-term population growth is due to inmigration from surrounding counties. The cost to live in Delaware is below the cost of living in neighboring states as is the cost of doing business. New Castle County is a job hub with more jobs than employed residents. A high percentage of the County s jobs are in professional and business services, health care and financial activities. Jobs in the County are projected to increase over the next ten years. Residents of New Castle County enjoy a relatively low unemployment rate. New Castle County residents are well-educated and have incomes above the national average. The U.S. 202 Corridor is convenient to a large market that is best characterized as highincome and well-educated.

14 Conclusions for Market Study 1. OFFICE Development Potential 2. RESIDENTIAL Development Potential 3. RETAIL Development Potential Potential

15 Office Development There is a need for product diversity on U.S. 202 to compete for broad range of tenants Greenfield land scarcity on U.S. 202 Current rents may not support structured parking Assuming a mixed-use, walkable product, U.S. 202 can support between 70, ,000 sq. ft. of new office development

16 Residential Development Multi-family housing --in a mixed-use setting-- is in demand for the Corridor With state-of-the art product in walkable settings, market can support 500 to 875 multi-family dwelling units over the next 10 years

17 Retail Development The U.S. 202 can capture more retail and food & beverage sales Better multi-modal access is critical to supporting existing retail store productivity Consumers are looking for a good experience in addition to a good deal Experiential retail is bolstered through high-quality placemaking and walkability Authenticity of place matters

18 Mixed-use Development U.S. 202 market has similar market characteristics to successful large-scale mixed-use town center developments There are opportunity areas for mixed-use along U.S. 202 AstraZeneca site, Brandywine Country Club and Concord Plaza Redevelopment of ageing commercial strip centers and consolidated parcels

19 Questions & Comments